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Copper Futures HG1!

HG1! Copper Day Trade 28-Sept-2023TRADE DIRECTION: LONG Price broke and closed above the Short-Term Trendline (red line). Before that, there were many candlesticks with long lower wicks (yellow eclipses) and bullish reversal candles (green arrows) formed around the lower line of the Parallel Channel (green dashed line), indicating buyers had started to accumulate long positions and sellers took profit off their short positions. KEY LEVELS: 1. Short Term Trendline (red line) 2. Parallel Channel (green dashed line) 3. Daily Pivot (Traditional Type) TRIGGER SIGNAL: Bullish Pin Bar (yellow arrow) and prior bullish reversal candles.
COMEX:HG1!Long
by TheDemonTrader
COPPER Two year Triangle is about to break out!Copper (HG1!) has been trading within a Triangle pattern for more than 2 years and recently the price action has gotten so narrow that it prompts to a break-out soon. The 1D MA50 (blue trend-line) has been acting as the Pivot level while the 1D MA200 (orange trend-line) had the last rejection on record on September 01. The 1D RSI since the May 24 Low has been printing a similar price pattern to July - October 2022 (so far). That fractal was also using the 1D MA50 as the Pivotand after it broke its Resistance, it rose aggressively almost as high as the 2.0 Fibonacci extension. We will purse a more modest target, below the 1.5 Fib at 4.2000. The R/R is worth it as a break below the Higher Lows (bottom) of the Triangle will make us close the trade on minimum loss and open a sell instead targeting 3.5500 (Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
COPPER: Neutral. Wait for a breakout.Copper is technically neutral, as also dipicted by the 1D outlook (RSI = 50.817, MACD = -0.013, ADX = 24.251) inside the HL trendline of the Bullish Megaphone and the LH trendline of the January High. This movement can only offer scalping opportunities. If you want to commit beyond those, buy over the LH and target R2 on the medium term (TP = 4.1950) and sell under the HL and target S2 (TP = 3.5450). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!
by InvestingScope
3
Dr Copper ~ Snapshot TA / Contraction x Expansion = InflectionIt ain't easy being DR CAPITALCOM:COPPER Peaked in March 2022, only to crash -38% & bottomed-out in July 2022. Since then it has fluctuated between Contraction (will Global Economy collapse?) versus Expansion (will Global Economy recover?), while also contending with outlook of China's Economy, yeesh lol. Copper's price action has also been compressing, as descending trend-line squeezes current Trading Range against ascending Parallel Channel. This suggests momentum will eventually need to "pop" in either direction...but it could also continue trading sideways a little longer while more data is disseminated by Market Makers to make a confident decision, TBC. Tick tock, time is running out for the Doctor.. Boost/Follow appreciated, cheers :) AMEX:COPX AMEX:CPER COMEX:HG1! COMEX:HG2!
CAPITALCOM:COPPER
by BlueHatInvestor
COPPER Two year Triangle may finally break.Copper (XCUUSD) is trading within a Triangle pattern since the March 07 2022 High. The price is currently above the 1D MA200 (orange trend-line), supported twice by the 1D MA50 (blue trend-line). The 1D RSI shows that we may be replicating the July 15 - September 20 2022 fractal. If the price breaks above the top (Lower Highs trend-line) of the Triangle, then based on the fractal should target initially the 1.5 Fibonacci extension level at 4.1800. As long as it closes below the Lower Highs, we will sell and target the 3.6870 Support. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!
by TradingShot
1
Copper Conundrum: Diverging Indicators Point to More DownsideThe last time we looked at copper was last October, and the trade played out nicely in our favor. Much has happened since then and we think another opportunity lies on the horizon now. Revisiting the same analysis now we observe the following… China, being the largest copper buyer, its currency pair CNHUSD traditionally shares a high correlation with copper. However, a divergence has emerged since May 2023. Moreover, copper's wide usage in manufacturing - from batteries to appliances and industrial machinery - makes China's import and export figures a good indicator of global economic health. These figures currently paint a gloomy picture, with YOY Exports & Imports pointing lower. Again, we notice a divergence between copper prices and these economic numbers. The Gold/Copper ratio, usually confined within a certain range, has recently tried to break higher. Despite facing resistance, the movement may still have momentum. Previous breaks upward have proven to be quite rapid. One way this could play out is if copper trades lower, the Gold/Copper ratio tends to trend higher. From a price action perspective, copper seems to be breaking out from a seven-month bull flag, inching towards the 4.00 price level. However, the significant resistance at 4.00 casts doubts on the breakout's success. Further fuelling this doubt is the emergence of a Simple Moving Average (SMA) death cross on the daily timeframe. On a shorter timeframe, the Relative Strength Index (RSI) suggests slight overselling, while the overall price structure is encapsulated in a symmetrical triangle. Summing up, we foresee short-term downside for copper due to diverging macro factors from copper’s price and a downward trend in the dollar. Moreover, price action suggests overbought levels and looming resistance. CME has the Full-sized Copper Contract or the Micro Copper Futures which we can use to express this view, taking a short position at the current level of 3.904, stop loss at 4.10 and take profit at 3.55 the next level of support and subsequently 3.30 if the symmetrical triangle breakout happens. Each $0.0005 price move in copper per pound is equal to $1.25 for the micro copper futures and $12.50 for the full-sized copper futures. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com www.cmegroup.com
COMEX:HG1!Short
by inspirante
HG1! Is Bullish! Long! Please, check our technical outlook for HG1!. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 3.729. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 3.771 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
COMEX:HG1!Long
by SignalProvider
7
HG1! Massive Long! BUY! My dear subscribers , I analysed this chart on HG1!, and concluded the following: The instrument tests an important psychological level 3.7005 Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Goal - 3.7740 My Stop Loss - 3.6580 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
COMEX:HG1!Long
by AnabelSignals
17
COPPER: Best sell signal on a 1 month basis.Copper hit the top of the Channel Down pattern that started in mid January and got rejected straight away. The 1D time frame already turned neutral (RSI = 51.361, MACD = 0.023, ADX = 28.747) and if the price crosses under the 1D MA50 and MA200, it will give a confirmed sell continuation signal. First target is the S1 (TP1 = 3.5525) and second near the S2 (TP2 = 3.3750). A 1D RSI Double Bottom inside its S1 support, will be the first buy signal. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!Short
by InvestingScope
2
HG1! The Target Is DOWN! SELL! My dear followers , I analysed this chart on HG1!, and concluded the following: The asset is approaching an important pivot point 3.8850 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Target - 3.8115 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
COMEX:HG1!Short
by AnabelSignals
13
HG1! One word - CLEAN!COMEX:HG1! One word - CLEAN! What a beautiful chart for copper! Technically it's ever so clean, when it comes to set ups like this - Be careful of fake breaks. Pattern - Triangle/Pennant Highs: 4.2100 Lows: 3.8255 A break of highs I expect: 4.3550 & 4.5570. However, a break of the lows I expect: 3.6740 & 3.5040 and perhaps lower! Currently, as long as we within this channel and within these ranges... until break either side! Have a great week ahead & it's a long weekend for some of us! 🔆 Trade Journal 🔆
COMEX:HG1!
by Trade_Journal
Copper: Like a Lead Weight ⚖️No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it should complete wave 2 in green, marking a distinctive low, which should then introduce a strong upwards movement.
COMEX:HG1!
by MarketIntel